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Feb 27, 2014
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i know t deficits are coming dn. maybe there is a reassuring noon that it pil up on e president's precipitously to s it will be $3 trillion less than rates shot but it will still be neck-and-neck $8 tllion re. that is hoodwiwinking pple. >> i did not go that far. neil: someone tells you it will fall $3 trtrillion don't you think it will fall? >> yes. neil: but go up 11 now goes up 8 trillionhat hat you meant. >> you rarely hear a politician who was fm this policy standpoint speaking to the same way you would hear an economist or someone in the financial industry. neilif you say you cut something then you better be cutting it not just saying that cut is off their rates of growth. that is disingenuous. >> the budget will be a huge issu. neil: no doubt. >> it will b something we have seen although it is not much of an issue during 2014. neil: if thas the case then doesn't at reinfoe th argumenent of little petus? that we know for both parties is a ticking time bomb? >> this focus in particular they do a lot ofesting and
i know t deficits are coming dn. maybe there is a reassuring noon that it pil up on e president's precipitously to s it will be $3 trillion less than rates shot but it will still be neck-and-neck $8 tllion re. that is hoodwiwinking pple. >> i did not go that far. neil: someone tells you it will fall $3 trtrillion don't you think it will fall? >> yes. neil: but go up 11 now goes up 8 trillionhat hat you meant. >> you rarely hear a politician who was fm this policy standpoint...
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Feb 26, 2014
02/14
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neil: whenever with these deficits now in the dollar more that we spent with ever greasy with the deficits many argue this is the call before the benefits storm? >> there are two ways. one is mandatory spending with medicare and medicaid and social security in obamacare. second, we could have pro-growth tax reform and a structure to allow the economy to grow. neil: your party is good at playing these games that does little to sign onto the debt ceiling increase. on and on rigo. you need what you say those. >> but these are the facts the president to stop want to change the mandatory spending program. he does not want pro-growth tax reform failed wanted to have another government shutdown so what republicans had to do was a precautionary measure to stop the administratiin with their madness. it is the least of the bad options. neil: but you will give bin to take a mile and with all the new spending initiatives precisely because they have your number in baking keep spending because you were on the midterm election emprise then you will eventually do the things you wanted in the meantime isin
neil: whenever with these deficits now in the dollar more that we spent with ever greasy with the deficits many argue this is the call before the benefits storm? >> there are two ways. one is mandatory spending with medicare and medicaid and social security in obamacare. second, we could have pro-growth tax reform and a structure to allow the economy to grow. neil: your party is good at playing these games that does little to sign onto the debt ceiling increase. on and on rigo. you need...
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Feb 27, 2014
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i know the deficits are coming down. maybe there is a reassuring notion that itiles up on the presidt's precipitously to say it will be $3 trillion less than rates shot but it will sll be neck-and-neck $8 trillion more. th is hoodwinking people. >> i did not go that far. neil: someone tells you it will fall $3 trillion don't you think it will fall? >> yes. neil: but go up 11 now goes up 8 trillion that is what you meant >> you rarely hear a politician who was from this policy standpot eaking to the same way you would hear an economist or someone in the financial industry. neil: if you say you cut something then you better be cutting it not jt saying that cut is off their rates of growth. that is disingenuous. >> the budget will be a huge issue. neil: no dbt. >> it will be something we have seen although it is not muchf an issue during 2014. neil: if that's the case then doesn't that reinforc the argument of little impetus? that we kn for both parties is a ticking time bomb? >> this focus in particular they do a lot of te
i know the deficits are coming down. maybe there is a reassuring notion that itiles up on the presidt's precipitously to say it will be $3 trillion less than rates shot but it will sll be neck-and-neck $8 trillion more. th is hoodwinking people. >> i did not go that far. neil: someone tells you it will fall $3 trillion don't you think it will fall? >> yes. neil: but go up 11 now goes up 8 trillion that is what you meant >> you rarely hear a politician who was from this policy...
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Feb 28, 2014
02/14
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well, the deficit last year fell more rapidly than in any year since world war ii. so deficits are coming down. are they losing some of the steam that fueled their cause? >> my colleague john stanton who was at their fifth anniversary event yesterday, he filed this really great report. he felt they were rudderless. initially they had obamacare to mobilize them and now there are so many different issues, don't know what exactly to pay attention to. i think the immigration he reform mobilized them for a while. the other piece of this is that i think many republicans especially in the house are so clearly identified with the tea party that you don't even need a tea party name anymore. it's all one in the same in the house. >> they're not the outsiders that they used to be. >> absolutely not. and a lot of the groups are based in arlington, virginia. they have definitely become a part of the gop. in the senate, it's a little different situation because people are trying to win statewide races so they have to moderate a bit. >> i think the 2014 elections will be very tell
well, the deficit last year fell more rapidly than in any year since world war ii. so deficits are coming down. are they losing some of the steam that fueled their cause? >> my colleague john stanton who was at their fifth anniversary event yesterday, he filed this really great report. he felt they were rudderless. initially they had obamacare to mobilize them and now there are so many different issues, don't know what exactly to pay attention to. i think the immigration he reform...
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Mar 4, 2014
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reducing deficits as a share of g.d.p. to 1.6% by 2024 and with regard to the issue of stabilizing our debt to g.d.p. ratio, that occurs in 2015, and then we start a declining path. the budget shows the president's vision for moving the country forward. it provides a responsible, balanced and concrete plan that can serve as a guide for congress and its work in the upcoming year. thank you. >> thank you. my role is to present the economic forecast that underpins the budget. the administration projects that economic growth will strengthen over the next several years as the economy continues to return to the full utilization of all its resources. the ongoing recovery will be aided by several factors. the overall shift of fiscal policy towards a more neutral stance, progress in household deleveraging, including gains in housing and stock market wealth and further potential for home building. this near-term recovery is consistent with c.b.o. which projects a similar pace of growth over the next three years. we assume that the g
reducing deficits as a share of g.d.p. to 1.6% by 2024 and with regard to the issue of stabilizing our debt to g.d.p. ratio, that occurs in 2015, and then we start a declining path. the budget shows the president's vision for moving the country forward. it provides a responsible, balanced and concrete plan that can serve as a guide for congress and its work in the upcoming year. thank you. >> thank you. my role is to present the economic forecast that underpins the budget. the...
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Mar 4, 2014
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we've cut a lot of money, in part, due to the sequester, and it's led to lowering and lowering the deficit. if you put that in the context of what the budget proposal suggests, it's only a modest increase in spend, talking about 56 billion, like you mentioned, split between defense, nondefense, and it's paid for. we established that the budget agreed to by patty murray and paul ryan, those spending levels stay in place, and you'll use a few other tax hike is to par for $56 billion to relieve s sequestrati sequestration. we have a piece coming up that shows nih will be funded at 30.2 billion. that, in real term money, equivalent to the level that george w. bush funded nih in 2002. we're not making people whole. we're lagging pretty badly. but as if you were to look at what republicans are saying, this is the most reckless spending possible. >> sam, on that note, the president say, our budge it is about choices, about values and this is expected to go nowhere, it's a moral document in the most sort of clear fashion from the white house. at the same time, you know, the president puts this out
we've cut a lot of money, in part, due to the sequester, and it's led to lowering and lowering the deficit. if you put that in the context of what the budget proposal suggests, it's only a modest increase in spend, talking about 56 billion, like you mentioned, split between defense, nondefense, and it's paid for. we established that the budget agreed to by patty murray and paul ryan, those spending levels stay in place, and you'll use a few other tax hike is to par for $56 billion to relieve s...
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Mar 6, 2014
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you and i can remember when you add a $50 billion deficit, 100 billion, huge deal. now we're bragging when the debt is down to $600 million. >> cut it in half. it's an amazing -- >> what happened to us? not you. >> i think the nation really to be quite frankly, we put it in neutral a long time ago, been coasting for a long time, for years and years and years, we have had our wakeup call and hopefully we'll hear it before it's too late. the abbott and costello thing has to stop. >>> you hear about how the healthcare law is hurting women? if you can stick around for 90 seconds, i'm going to guarantee you will. so you're telling me your mom has a mom cave? hi boys! i've made you campbell's chunky new england clam chowder. wow! this is incredible! i know. and now it has more clams! [ male announcer ] campbell's chunky soup. what? [ male announcer ] it fills you up right. >>> republicans deny they're waging war on women. >> continue their war on women and vendetta against the affordable care act. >> continuation of their assault on women's health. >> it is a war on women
you and i can remember when you add a $50 billion deficit, 100 billion, huge deal. now we're bragging when the debt is down to $600 million. >> cut it in half. it's an amazing -- >> what happened to us? not you. >> i think the nation really to be quite frankly, we put it in neutral a long time ago, been coasting for a long time, for years and years and years, we have had our wakeup call and hopefully we'll hear it before it's too late. the abbott and costello thing has to...
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Mar 2, 2014
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deficits in the national flood insurance program. they are undoing the work to providing relief. the house will take up an energy will restrictich the epa's regulation of carbon emissions by coal-fired plants. this is a big priority of utilities. it would require any limits for new plants to be based on existing technology. it will be a theme this week. there will be several energy bills, just like there was a theme last week about excessive regulation. we thank bettelheim, you for the lookahead. as always sir, thank you for your time. >> my pleasure, sir. >> on the next washington journal, national review --umnist talks about us joins us to talk about the tea party. followed by brandywine garden -- eingarten. in thejoined with daniel council of foreign relations. washington journal is live at 7:00 a.m. eastern. what we're told, both as students and as a nation, is there are all kinds of siddons and marches and demonstrations and occur. -- sit in's marches and demonstrations that occur. barks --it was rosa basically, it was rosa park
deficits in the national flood insurance program. they are undoing the work to providing relief. the house will take up an energy will restrictich the epa's regulation of carbon emissions by coal-fired plants. this is a big priority of utilities. it would require any limits for new plants to be based on existing technology. it will be a theme this week. there will be several energy bills, just like there was a theme last week about excessive regulation. we thank bettelheim, you for the...
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Mar 5, 2014
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in fiscal year 2009, we achieved a high deficit watermark of $1.4 trillion. that number fell to a still high $680 billion in fiscal year 2013. of the $736 billion of deficit reduction over that five-year span, $670 billion came from increased revenue or taxes and only $66 billion came from reduced outlays. so in terms of budget realizations, rather than promises for the future, less than 9% of the deficit reduction between 2009 and 2013 came from reductions in spending. the vast majority came from increased revenue. yet the mantra from the administration continues: more revenue and higher taxes along with ever-more spending. one can only wonder where job creation falls into the mix, if it does at all. since president obama came into office, we've heard a lot of talk about his laser-like focus on job creation. however, the record of this administration suggests that this focus is more on growing government than on growing our economy. we've seen the failed stimulus, obamacare, and initiatives like dodd-frank, all of which have expanded the size and scope of th
in fiscal year 2009, we achieved a high deficit watermark of $1.4 trillion. that number fell to a still high $680 billion in fiscal year 2013. of the $736 billion of deficit reduction over that five-year span, $670 billion came from increased revenue or taxes and only $66 billion came from reduced outlays. so in terms of budget realizations, rather than promises for the future, less than 9% of the deficit reduction between 2009 and 2013 came from reductions in spending. the vast majority came...
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it's jack what you're saying. >> where's the deficit there? last night bill o'reilly kept pushing his case that there's something wrong with having a woman president and finally he found an answer. >> there's got to be a down side for a woman. do you know one? >> i'm having a tough time with this one, too, bill. i think it depends on the individual. of course there's a down side to certain individual women. >> but in general, you both don't see any gender deficiency to lead the free world? >> well, look, i can actually think of something. >> oh, good. if. >> if you can take your example of men being macho. a woman might feel like she needs to act macho, for example, maybe feel like she had to take, vote for, say, the iraq war. i'm just going to say theoretically, to make it look like she would be a tough leader when she was in office and that she's not afraid to use military force. >> that's what hillary clinton did. >> yes. >> oh, yeah, hillary clinton vote for the iraq war that put it over the top. there were 77 votes in the senate authorizi
it's jack what you're saying. >> where's the deficit there? last night bill o'reilly kept pushing his case that there's something wrong with having a woman president and finally he found an answer. >> there's got to be a down side for a woman. do you know one? >> i'm having a tough time with this one, too, bill. i think it depends on the individual. of course there's a down side to certain individual women. >> but in general, you both don't see any gender deficiency to...
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at a time when our deficits are falling at the fastest rate in 60 years, we have to decide if we are going to keep squeezing the middle class or if we're going to continue to reduce the deficits responsibly, while taking steps to grow and strengthen the middle class. the american people have made clear time and again which approach they prefer. that is the approach my budget offers. that is why i am going to fight for it this year and in the years to come as president. thank you very much, everybody. michael? >> do you have any response to president putin's press conference this morning? is chancellor merkel right that he has lost touch with reality? have you spoken to him personally? >> i have not spoken to him since i spoke to him this past weekend. but obviously, me and my national security team have been watching events unfolding in ukraine very closely. i met with them again today. as many of you know, john kerry is in kiev as we speak, at my direction. he's expressing our full support for the ukrainian people. over the past several weeks, we've been working with our partners an
at a time when our deficits are falling at the fastest rate in 60 years, we have to decide if we are going to keep squeezing the middle class or if we're going to continue to reduce the deficits responsibly, while taking steps to grow and strengthen the middle class. the american people have made clear time and again which approach they prefer. that is the approach my budget offers. that is why i am going to fight for it this year and in the years to come as president. thank you very much,...
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Mar 4, 2014
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interesting to look at and something i picked up that i thought was interesting, look at the deficit and the gdp ratio in the years ahead. that taking into account the entire budget will be put into play. this is not the case and people on both sides say that this is the case. you see the numbers going down 2.3%, the budget to gdp ratio is at precrisis levels. to gdp -- and this goes down $13 billion. nobody expects this budget to be put into place but projections are moving down on the deficit, which is why you see a president who is willing to go out there and talk about new spending ther years when the -- all talk in washington is about cuts. >> thank you, phil mattingly and peter cook, with the latest about the president and the secretary of state. >> we want to make sure we get a final few thoughts with oliver leavitt, who has a big week coming up. day.onal detox t >> national unplug day. i have been working with arianne huffington and i learned something interesting about our constant connections. morning,wake up in the and you start looking at your e-mail and your constantly c
interesting to look at and something i picked up that i thought was interesting, look at the deficit and the gdp ratio in the years ahead. that taking into account the entire budget will be put into play. this is not the case and people on both sides say that this is the case. you see the numbers going down 2.3%, the budget to gdp ratio is at precrisis levels. to gdp -- and this goes down $13 billion. nobody expects this budget to be put into place but projections are moving down on the...
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Mar 5, 2014
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and as a result, the deficit would be better with deficit reduction which is what we are showing in our budget than if you did not have deficit reduction which is what a budget baseline would show. there is some other technical differences between our out your forecasts that are mostly on the revenue side come and not on the spending side. aca is the law of the land. >> do any of the discussions about tax revisions vary from current law? maybe certain expired tax revisions? >> obviously, we have a set of proposals in their. one of the places that is in our -- that is assumed in our budget is that in the 2010 and 2012 budgets, the president extended his increases for the refund ability in the child tax credit the increases in the earned income tax credit for families of three children and more and the marriage penalty and one of the president's innovations was that a portion of that was also refundable. in the budget agreement, those were extended for another five years through 2017. we would assume that those are extended permanently. we believe very strongly in that if those were t
and as a result, the deficit would be better with deficit reduction which is what we are showing in our budget than if you did not have deficit reduction which is what a budget baseline would show. there is some other technical differences between our out your forecasts that are mostly on the revenue side come and not on the spending side. aca is the law of the land. >> do any of the discussions about tax revisions vary from current law? maybe certain expired tax revisions? >>...
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Mar 6, 2014
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deficit,ore debt, more and more taxes. it is problematic. it did not solve anything. host: on the areas where you say there is common ground, do you think it get done before the 2014 election? guest: we already have a budget agreement that is the reality. host: the current income tax credit, the transportation. guest: we have a two-year highway bill in place right now. in the political dysfunction congress, the house transportation committee was able to pass a two-year highway bill. extension forfaa our airports. will continue. the good thing about transportation infrastructure, it is generally bipartisan. every congressman and senator has roads, bridges, harbors in their states. i believe we are going to continue to work on those things. host: the house armed services committee hearing from general dempsey today about the military's budget. what do you make of what the president post -- of what the president proposed? guest: i am nervous. it is a flat line. there is modest reduction and it does not grow. the budget wasat really designed around what the are.nal securi
deficit,ore debt, more and more taxes. it is problematic. it did not solve anything. host: on the areas where you say there is common ground, do you think it get done before the 2014 election? guest: we already have a budget agreement that is the reality. host: the current income tax credit, the transportation. guest: we have a two-year highway bill in place right now. in the political dysfunction congress, the house transportation committee was able to pass a two-year highway bill. extension...
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Mar 1, 2014
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those in flood areas that came about because of legislation that congress passed to address the chronic deficits in the national flood insurance program. they are undoing the work to provide some relief. in the energy bill, the house will be taking up a measure that would restrict the epa's regulation of carbon emission by coal-fired power plants. this is a big deal in the climate change debate and a big deal for utilities. it would require any limits for new plants to be based on existing technology. that will be a theme this week. there will be several energy bills just like there was a theme about excessive regulation in view of the gop. bettelheim, as always, thank you for your time. >> death from other major decline.continue to death from alzheimer's have increased 70% in the last 18 years. over 5 million americans have alzheimer's and at this rate as as 17 million could have it. so few people have something to relate to. if my wife and i saw something -- somebody talk about it, it make us feel not alone. although whispering is better than the silence that the community has been facing for
those in flood areas that came about because of legislation that congress passed to address the chronic deficits in the national flood insurance program. they are undoing the work to provide some relief. in the energy bill, the house will be taking up a measure that would restrict the epa's regulation of carbon emission by coal-fired power plants. this is a big deal in the climate change debate and a big deal for utilities. it would require any limits for new plants to be based on existing...
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that might prevent your central bank from easing policy, whether you're you've got a current account deficit, whether you are on the production side of commodities or the consumption side of commodities. clearly there are some particularly hard-hit emerging markets leaving the ukraine aside for a moment. you've got the now so-called fragile five, brazil, india, indonesia, south africa and turkey. and those are some of the most beleaguered areas. but there are also going to be some winners. we have a fairly optimistic view on china which is by far the biggest within the emerging markets sphere. >> wish we had more time to explore that with you. liz ann, always a pleasure talking to you. thanks so much. >> thanks for having me. >> liz ann saunders, chief investment strategist at charles schwab. >>> if you're wondering which well-known u.s. companies have some of the biggest exposure, among them are general motors. it makes about 100,000 cars a year at a plant near st. petersburg and it's hoping to expand operations next year. ford operates three plants with a russian automaker. exxon mobile fo
that might prevent your central bank from easing policy, whether you're you've got a current account deficit, whether you are on the production side of commodities or the consumption side of commodities. clearly there are some particularly hard-hit emerging markets leaving the ukraine aside for a moment. you've got the now so-called fragile five, brazil, india, indonesia, south africa and turkey. and those are some of the most beleaguered areas. but there are also going to be some winners. we...
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by taking that out, they will lose 230 billion or so in deficit reduction. already we know one of the ways will be assuming the senate passes and immigration overall. go much does that cost you these are the kinds of things we will be looking for. perhaps the least effective budgets we have seen in years because congress are it has a toplines appropriations number for this year. they are are ready holding hearings. this is entitlement overhaul out of the midterm. how is the budget actually released today, and to are the surrogates that the white house is sending to capitol hill over the next coming days to talk about the president spending plan? 11:30.we will see it at it used to be they handed out copies to the press but that has been curtailed. theave been told that historical perspective volume, usually an interesting economic here this week, will have the main budget all human independent, they will be available at 11:30 and then a noontime press conference. andell from west virginia pretty much well-liked on all sides of the aisle will be going to the h
by taking that out, they will lose 230 billion or so in deficit reduction. already we know one of the ways will be assuming the senate passes and immigration overall. go much does that cost you these are the kinds of things we will be looking for. perhaps the least effective budgets we have seen in years because congress are it has a toplines appropriations number for this year. they are are ready holding hearings. this is entitlement overhaul out of the midterm. how is the budget actually...
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more debt, higher deficits, rob our children blind and you're all in support of it? >> it's not that i'm in support of it let's talk about what it really is. the numbers already been decided. that was the whole partisan thing that happened a few months ago, what we're going to quick et over is how that money's going to be divided. >> we're going to gut defense. >> you may have heard that it's an election year. is it at all possible that this is an election budget that every one of us knows is never going through? >> we're going to rob our children? >> no, we're not. >> it's not going to happen. >> you know it's not going to happen. >> it's an election year. fudge it. >> i concede the point counselor. >> good night, folks. >> i concede that point, it's not going to happen, the fact that he wants it. didn't we learn? sl. >> he doesn't want it, congress wants it. >> everyone in congress has to run in november, it's a democratic budget p. >> why do they waste our time in. >> that's how politics works. you don't think the republicans do it when they're in the white house?
more debt, higher deficits, rob our children blind and you're all in support of it? >> it's not that i'm in support of it let's talk about what it really is. the numbers already been decided. that was the whole partisan thing that happened a few months ago, what we're going to quick et over is how that money's going to be divided. >> we're going to gut defense. >> you may have heard that it's an election year. is it at all possible that this is an election budget that every...
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and results in a very large balance of payments deficit. these have to be fixed. they are fixable. that is the first order of business. >> imf headlines? >> this is from the u.s. treasury, announcing their assistance plans, the $1 billion loan guarantee is planned and they plan to send technical advisers to the ukraine, saying the treasury will be at the center of international aid and the plan will live to the russian tree move. >> would you presume that the imf is speaking with russia? ofis there a lack communication there? >> certainly, they are members and are represented at the executive board my and executive director. i am sure that there is communication. but the important point here is the technical analysis of what is needed to put ukrainian economic policy in a sustainable and positive mode. then to arrange the financing necessary to make the implementation practical. you so much.k greatly appreciate that from our washington news bureau this morning. really talking about the clamps that have to be placed down in the process. >> w
and results in a very large balance of payments deficit. these have to be fixed. they are fixable. that is the first order of business. >> imf headlines? >> this is from the u.s. treasury, announcing their assistance plans, the $1 billion loan guarantee is planned and they plan to send technical advisers to the ukraine, saying the treasury will be at the center of international aid and the plan will live to the russian tree move. >> would you presume that the imf is speaking...
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president obama blew through those deficits. he had in excess of trillion dollar deficits year after year. what the republicans were able to do in the house is not continue that level of trajectory. has spending gone up? it absolutely has. but the level has slowed down and -- >> i get the feeling, congresswoman, maybe not you in particular, a lot of your party are giving up the fight and keeping the powder dry and hoping at the end of the year pick up more seats in the house and maybe take the senate and you bet you that will be the time when republicans get serious. but is that a lot to hang your hat on? >> well, what we need to hang our hat on is boosting the labor force participation rate. we're at the lowest level ever for anyone over age 16 actually having a job in the labor force and in a full-time capacity. that has to change. and unfortunately the president's budget is not a serious budget. it never balances. it doesn't send a signal to the marketplace, neil, that any time soon we're going to change -- see a change in wa
president obama blew through those deficits. he had in excess of trillion dollar deficits year after year. what the republicans were able to do in the house is not continue that level of trajectory. has spending gone up? it absolutely has. but the level has slowed down and -- >> i get the feeling, congresswoman, maybe not you in particular, a lot of your party are giving up the fight and keeping the powder dry and hoping at the end of the year pick up more seats in the house and maybe...
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they are providing so much money to reduce the deficit. you have a triumvirate of forces reducing the deficit from the outside. then he may, freddie mac, and jpmorgan. i thought -- i think that may continue for a while. cyber security -- you will hear a lot about that. the chances of more data breaches this year are 100%. there will be more and probably will be more as we are sitting here this morning. the chances of a bill are pretty dim. you get the sense that everywhere you look the legislative agenda is looking pretty meager. i don't totally rule out a bill that eric cantor and others are talking about giving tax incentives to companies that hire and train young workers. there could be something like that but i think there will not the a lot. one final thing i want to throw out -- a theme of mine that i have been talking about for the last two or three months -- it leaves me puzzled. here we have an economy that grew in the second half by 3.5% or something like that. that was a rise in gdp and was not all inventory accumulation. inre w
they are providing so much money to reduce the deficit. you have a triumvirate of forces reducing the deficit from the outside. then he may, freddie mac, and jpmorgan. i thought -- i think that may continue for a while. cyber security -- you will hear a lot about that. the chances of more data breaches this year are 100%. there will be more and probably will be more as we are sitting here this morning. the chances of a bill are pretty dim. you get the sense that everywhere you look the...
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to close a tax loophole and we'll raise taxes on very rich people because we do have a significant deficit and we're printing money and it's time to act responsibly. >> michael far, we appreciate that. still to come, we're watching arizona where the governor is expected to make a major announcement at this hour about the religious freedom bill that we've been talking about. we'll be there live. >>> paula deen with a significant new investment. an announcement to make. is it a sign that america has forgiven her from using the "n" word. >>> what prompted spike lee to go on this profanity ridden rant? >> get the [ bleep ] out of here. no, i can't do that. get the [ bleep ] out of here. i can't do that. nvestment isn't the only return i'm looking forward to... for some, every dollar is earned with sweat, sacrifice, courage. which is why usaa is honored to help our members with everything from investing for retirement to saving for college. our commitment to current and former military members and their families is without equal. ...and let in the dog that woke the man who drove to the control
to close a tax loophole and we'll raise taxes on very rich people because we do have a significant deficit and we're printing money and it's time to act responsibly. >> michael far, we appreciate that. still to come, we're watching arizona where the governor is expected to make a major announcement at this hour about the religious freedom bill that we've been talking about. we'll be there live. >>> paula deen with a significant new investment. an announcement to make. is it a...
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what is the deficit number in this proposal and define the two. >> guest: deficits are how much the government spends minus how much they raise in revenue. and they are measured in percentage of economy activity. it is around 4% and coming down fast. i think it is estimated to end around 3% and in the 2's next year so that is a big decline from 2010 where it was 10%. so that is progress. as long as the economy is growing faster than 2%, it will be a decline. every year you spend more than you have, and borrow money and that adds to the debts. so they would come down to a 1.6% gdp. the president will raise taxes on a trillion dollars mainly on wealthy people but some middle class as well. it would probably work. but it is a huge controversy from the taxes. ... thank you for taking my call. independent because most of us americans have caught onto the big blame game. , andeach blame each other basically they are on the same team. they have different ways to go about it. my main problem is the epa. we are giving him close to $8 million, and it'll do nothing for us. they let the fracking industry
what is the deficit number in this proposal and define the two. >> guest: deficits are how much the government spends minus how much they raise in revenue. and they are measured in percentage of economy activity. it is around 4% and coming down fast. i think it is estimated to end around 3% and in the 2's next year so that is a big decline from 2010 where it was 10%. so that is progress. as long as the economy is growing faster than 2%, it will be a decline. every year you spend more than...
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the federal deficit was $680 billion in the last fiscal year. that's down from about $1.1 trillion the previous year. cnn global economic analyst, managing editor of "time" magazine. so it's a dramatic -- about 15% drop in the deficit, which is still high, but a lot less than it used to be. what happened? >> well, in short, the country's growing again. we have been in a recovery for the last year. hasn't felt like one to a lot of people, but growing your way out of a deficit is always the best way to do it. that happened during the boom period of the clinton years, what a lot of people have been hoping would happen once we got past the fiscal headwinds in washington, that we get back on a growth path. what's interesting, though, there is actually a cbo study out looking at the longer term impact on budget deficits. and we have to keep growing faster in order to keep it down. we go back to a 2% economy, those numbers will tick right back up. so the jury is still out on this. >> because that cbo report that came out the other day, it said right no
the federal deficit was $680 billion in the last fiscal year. that's down from about $1.1 trillion the previous year. cnn global economic analyst, managing editor of "time" magazine. so it's a dramatic -- about 15% drop in the deficit, which is still high, but a lot less than it used to be. what happened? >> well, in short, the country's growing again. we have been in a recovery for the last year. hasn't felt like one to a lot of people, but growing your way out of a deficit is...
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at a time when i deficit has been cut in half. it allows us to meet our obligations to future generations. from the heard president, deficit picture is looking better. much so that levels will be below where they were before the budget crisis. >> how do republicans react to away from the emphasis on deficit reduction act out >? >> john baeder came out and said that this was the most irresponsible budget yet of the obama has proposed. the president laster put out an all french to republicans and said he was willing to make changes to social security, medicare and other entitlement programs. those are all gone this year. for republicans to look at these budgets in the lines of what the established last year in terms of topline numbers under the agreement, this budget is something that will not move in the house of republicans. are viewed asts more of political documents as opposed to policy proposals. >> that really is right. especially this year. yep midterms coming up in november. the white house wanted to lay out policy prioritie
at a time when i deficit has been cut in half. it allows us to meet our obligations to future generations. from the heard president, deficit picture is looking better. much so that levels will be below where they were before the budget crisis. >> how do republicans react to away from the emphasis on deficit reduction act out >? >> john baeder came out and said that this was the most irresponsible budget yet of the obama has proposed. the president laster put out an all french to...
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to close a tax loophole and we'll raise taxes on very rich people because we do have a significant deficit and we're printing money and it's time to act responsibly. i applaud them. >> michael far, we appreciate that. still to come, we're watching arizona where the governor is expected to make a major announcement at this hour about the religious freedom bill that we've been talking about. we'll be there live. >>> paula deen with a significant new investment. an announcement to make. is it a sign that america has forgiven her from using the "n" word. >>> what prompted spike lee to go on this profanity filled rant? >> get the [ bleep ] out of here. no, i can't do that. get the [ bleep ] out of here. i can't do that. i always say be the man with the plan but with less energy, moodiness, and a low sex drive, i had to do something. i saw my doctor. a blood test showed it was low testosterone, not age. we talked about axiron the only underarm low t treatment that can restore t levels to normal in about two weeks in most men. axiron is not for use in women or anyone younger than 18 or men with p
to close a tax loophole and we'll raise taxes on very rich people because we do have a significant deficit and we're printing money and it's time to act responsibly. i applaud them. >> michael far, we appreciate that. still to come, we're watching arizona where the governor is expected to make a major announcement at this hour about the religious freedom bill that we've been talking about. we'll be there live. >>> paula deen with a significant new investment. an announcement to...
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pointing out that under president obama's leadership deficit has been cut in half as a share of the economy the largest four year deficit reduction since the demobilization from world war two and while for all president obama's budget doesn't call for a grand bargain that same fact sheet says that compromise proposals aka social security cuts remain on the table if republicans ever learn to cooperate it's good to see that president obama has the common sense not to cut social security during an election year but if you really wants to leave the steroids era behind us in. stop talking about deficits and start talking about what the government can do right now to rebuild the middle class. all right with me for tonight's big picture politics panel our staff writer for in these times and carl fresh democratic strategist and partner at both great stretch bullfight strategies carl cole welcome so much so guys and i just you know up high in the sky liberal for thinking that the president could do a little bit more this fiscal fiscal year two thousand and fifteen budget i mean he's now well
pointing out that under president obama's leadership deficit has been cut in half as a share of the economy the largest four year deficit reduction since the demobilization from world war two and while for all president obama's budget doesn't call for a grand bargain that same fact sheet says that compromise proposals aka social security cuts remain on the table if republicans ever learn to cooperate it's good to see that president obama has the common sense not to cut social security during an...
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as a result, obviously the deficit is a lot better with deficit reduction, which is what we're showing in our budget, than if you didn't have deficit reduction, which is what a budget baseline would show. there's some other technical differences between our outyear forecast. they're mostly on the revenue side, though, not on the spending side. both of them include a.c.a. because it's the law of the and. >> this is for anyone. tax provisions vary from current law like maybe the certain expired tax provisions or extenders? >> well, obviously we have a set of proposals in there, so one of the places where -- that's in our -- assumed in our budget is that in the 2010 and 2012 budgets, the president extended his increases for the refundability in the child tax credit. the increases in the earned income tax credit for three children or more and the marriage penalty and one of the president's innovation and earned income tax credit was that a portion of that was also refundable. in the budget agreement those were extended for another five years through 2017. we would assume that those are ext
as a result, obviously the deficit is a lot better with deficit reduction, which is what we're showing in our budget, than if you didn't have deficit reduction, which is what a budget baseline would show. there's some other technical differences between our outyear forecast. they're mostly on the revenue side, though, not on the spending side. both of them include a.c.a. because it's the law of the and. >> this is for anyone. tax provisions vary from current law like maybe the certain...
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al maria reduced the deficit, two other goals came from two of their stalwarts late in the second half. defender car carlos pulo, richad barth al jazeera. >> it was a thrilling final round at the honda classic in florida where the title was decided in a four man playoff. tiger woods began seven shows behind, but he was forced to withdraw with a back injury. double bogey, four-over 74, missed the eagle putt, for the final hole of the outright win. henley, only second pag victory. >> it was a rush to be out there, playing with rory. i've never played or bean part of the crowd so big. it was just an amazing feeling. i feel like i kind of got them going and it was so much fun. i hope i can have a bunch more sundays just hike that in my career. >> i didn't -- like that in my career. >> i didn't play well enough to deserve the tournament. just wasn't in control. my golf ball coming down the stretch. but you know still had a chance to win the tournament, didn't quite do it, and just had an awkward distance from my second in the playoff and a couple of awkward lies, couldn't make birdie but it
al maria reduced the deficit, two other goals came from two of their stalwarts late in the second half. defender car carlos pulo, richad barth al jazeera. >> it was a thrilling final round at the honda classic in florida where the title was decided in a four man playoff. tiger woods began seven shows behind, but he was forced to withdraw with a back injury. double bogey, four-over 74, missed the eagle putt, for the final hole of the outright win. henley, only second pag victory. >>...
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here we see a budget deficit falling sharply. i'll pick on the cbo since everybody picks on the cbo. i thought their receipt estimates for next two or three years were a little stingy, but no matter how you slice it the deficit as percentage of gdp is headed below 3% in the next year or two. you see all this good news. yet no one in this city wants to acknowledge it or take credit for it. it is damnest thing i ever have seen. let me fin wish a comment on three sources in this city that seem unwilling to acknowledge the fact that things have gotten better. you have to ask the question, could this be a self-fulfilling prophecy? first and foremost, not surprisingly is the media. i have some friend here in the press but media feels you can sell more newspapers and get better ratings when you talk about the negative. during the holidays, my blood pressure spiked about 20 points. i saw two stories talking about the recession as if it were still underway. well, for christ's sake the recession ended in june of 09 yet you still hear in th
here we see a budget deficit falling sharply. i'll pick on the cbo since everybody picks on the cbo. i thought their receipt estimates for next two or three years were a little stingy, but no matter how you slice it the deficit as percentage of gdp is headed below 3% in the next year or two. you see all this good news. yet no one in this city wants to acknowledge it or take credit for it. it is damnest thing i ever have seen. let me fin wish a comment on three sources in this city that seem...
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how do i differentiate as i look the key issue for me is who is dealing with a budget deficit or who is not raising interest rates. what is the critical issue for you? willdonesia for example mark itself out as different from the others. elsewhere,ine and don't be too concentrated in emerging markets. political risk is large and it is not very well-predicted by investors. do be well diversified. take some overweight and underweight positions. we tend to be overweight the small countries and underweight the largest ones. underweight the brics historically. that can be difficult when china is on a strong rally. good stead over the long term. >> what is going on in china? i come in everyday, we have the yuan on the move, we are trying to lure him the currency? there is something very interesting in the past couple of weeks in china. >> they have to squeeze the excess is out of the system and it is going to be painful. we talked about volatility earlier. we can expect that to spike up later in the year. there is going to be some headline news out of china as this credit excess is squeeze
how do i differentiate as i look the key issue for me is who is dealing with a budget deficit or who is not raising interest rates. what is the critical issue for you? willdonesia for example mark itself out as different from the others. elsewhere,ine and don't be too concentrated in emerging markets. political risk is large and it is not very well-predicted by investors. do be well diversified. take some overweight and underweight positions. we tend to be overweight the small countries and...
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the deficit because it's not about the deficit it was never about the deficit it's ideological it's about undoing the new deal exactly and do doing any progressive games and until they achieve those ends you'll keep hearing the deficit hawks come up and use that as an excuse for that yeah hopefully hopefully people will realize now that the deficit stuff is just a nonsense to be good enough to be a myth. all right more of tonight's big picture politics panel right after the break. to. see. if. we welcome aaron eight and abby martin to be terrific hosts on the our team network . it's going to give you a different perspective give me one stock tip i'll never i'll give you the information you make the decision don't worry about it i'll bring you the sub work of the mind it's a revolution of ideas and consciousness. with the system extremely all if you would be described as angry i think in a strong. single. live . live. live . live. in effect that means you can jump in anytime you want. welcome back with me for tonight's big picture politics panel are sam sax and ben cohen guys let's g
the deficit because it's not about the deficit it was never about the deficit it's ideological it's about undoing the new deal exactly and do doing any progressive games and until they achieve those ends you'll keep hearing the deficit hawks come up and use that as an excuse for that yeah hopefully hopefully people will realize now that the deficit stuff is just a nonsense to be good enough to be a myth. all right more of tonight's big picture politics panel right after the break. to. see. if....
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. >> you have to move in that direct overtime, we have large budget deficits, when we moe out to 2018, baby boomers begin to retire if great numbees. lou: why are the republicans having a har time remembering that it is about reding will le of spending here? why i that difficult in that document that he put out there, in my opinion, could have come from the obama white house. >> mm-hmm, that is -- how do you curb spending overtime, that is politically unpopular there is the problem. when you talk about changing tax code, peoe are not go many are not going to are having happy, if they lose tax deductibility of for municipalonds. lou: i think ts document wil reside to the sidelines, at the very best. lou: there is really no escaping retal. >> hunl demands toe made of fedel government not too many years from now. lou: john lonski thank you, we apprecte >> new reports city nationwide are doing away with red light cameras. among concerns about the red lights, what they really amount to, their worth. their invasiveness, what they increase traffic accidents. usage of these cameras has fallen
. >> you have to move in that direct overtime, we have large budget deficits, when we moe out to 2018, baby boomers begin to retire if great numbees. lou: why are the republicans having a har time remembering that it is about reding will le of spending here? why i that difficult in that document that he put out there, in my opinion, could have come from the obama white house. >> mm-hmm, that is -- how do you curb spending overtime, that is politically unpopular there is the problem....
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>>> the federal deficit plunged by more than $400 in the last fiscal deficit. the sharpest drop since the end of world war ii. alison kosik is in new york to tell us why this happened. >> the federal budget deficit is at its lowest level in five years. the deficit is the difference between what the government spends and takes in. that dropped to $680 billion in 2013. to give you some perspective, during the financial crisis, it shot up above $1 trill in 2009 as the economy tanked and government bailouts became the norm. here is why it is happening. the economy is getting better over the last few years. the deficit has been shrinking. also, we are paying higher taxes. all that means more revenue for the government. the government has cut back on spending. the republicans, they still insist that the budget deficit is still too large. if they are looking for a fight, they may not get it. congress agreed to a bipartisan budget deal. mid-term elections are coming in the fall. a strengthening economy is removing much of the budgetary brinkmanship we have been sufferi
>>> the federal deficit plunged by more than $400 in the last fiscal deficit. the sharpest drop since the end of world war ii. alison kosik is in new york to tell us why this happened. >> the federal budget deficit is at its lowest level in five years. the deficit is the difference between what the government spends and takes in. that dropped to $680 billion in 2013. to give you some perspective, during the financial crisis, it shot up above $1 trill in 2009 as the economy tanked...
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a lot of the budget deficit is because ukraine has a very high energy subsidies. it pays a fifth of the import price. energy has to rise as well. that's really, really important. it is important for getting rid of corruption. other bits are likely to be stabilization. that's the good news. the final bit is banking sector reform. the exchange rate when it weakens will credit a big hole and that one needs to be filled. >>> take a look at this, would you? is this the future of aviation? investors behind this giant airship believe it could revolutionize oil exploration to disaster relief operations. it will be able to lift 50 tons of cargo. it has been sold back to the british firm. it has won the financial backing of one of britain's most success rock stars as richard wescott has been finding out. >> reporter: inside britain's big of aircraft hangar, something is growing. beating into life the world's longest flying machine. looks like an airship, but it isn't because it doesn't float. what you can see from here is that unique shape. it's actually designed more like
a lot of the budget deficit is because ukraine has a very high energy subsidies. it pays a fifth of the import price. energy has to rise as well. that's really, really important. it is important for getting rid of corruption. other bits are likely to be stabilization. that's the good news. the final bit is banking sector reform. the exchange rate when it weakens will credit a big hole and that one needs to be filled. >>> take a look at this, would you? is this the future of aviation?...
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while we've done a lot of deficit reduction, we've done it in the wrong way. we've focused on, i think, inadvertently through congress not being able to pick our policies on short-term measures that came out of the budget, which isn't where the problem is. what we should be doing is trying to replace those savings that came from the sequester that aren't as useful or long-term with more permanent and structural changes to entitlement programs and the tax code. that would be the best to do for the economy. >> let me ask you quickly before we go, because i think there is this growing consensus and you said you think there can be more that is done on that. give us a sense of where you think that can happen. >> well, i think there's different ways you have to look at income inequality, which is how people are making their money and what's happening after the government's involved, so one of the issues we have to look at is how to have more training, more education, more high skilled workers earning higher wages to begin with, so it's not just things like eitc and
while we've done a lot of deficit reduction, we've done it in the wrong way. we've focused on, i think, inadvertently through congress not being able to pick our policies on short-term measures that came out of the budget, which isn't where the problem is. what we should be doing is trying to replace those savings that came from the sequester that aren't as useful or long-term with more permanent and structural changes to entitlement programs and the tax code. that would be the best to do for...
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the deficit because it's not about the deficit it was never about the deficit it's ideological it's about undoing the new deal exactly and do doing any progressive big. till they achieve those ends you'll keep hearing the deficit hawks come up and use that as an excuse for that and yeah hopefully hopefully people will realize now that the deficit stuff is just a nonsense to be good enough to beat them at all right more of tonight's big picture politics panel right after the break. got a code for years that's pretty tough. stay with substory. but if this guy like you would smear that guy stead of working for the people most issues the mainstream media are working for each other bribe writers vision to find . a good writer. if it was a. very hard to take. once again to come on here there's a play by patton that had sex with her thick hair cut this. if it was safe. safe. if . welcome back with me for tonight's big picture politics panel our sam sax and ben cohen guys let's get back to it all right tomorrow is primary day in texas and for the first time in a while democrats actually hav
the deficit because it's not about the deficit it was never about the deficit it's ideological it's about undoing the new deal exactly and do doing any progressive big. till they achieve those ends you'll keep hearing the deficit hawks come up and use that as an excuse for that and yeah hopefully hopefully people will realize now that the deficit stuff is just a nonsense to be good enough to beat them at all right more of tonight's big picture politics panel right after the break. got a code...
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generations without leaving them a mountain of debt. >> woodruff: the 2015 deficit would decline, to $560 billion, but republicans today said the red ink, spending hikes and tax increases mean the plan is dead on arrival. senate minority leader mitch mcconnell. >> rather than put together a constructive blueprint the two parties could use as a jumping off point, to get our economy moving and our fiscal house in order, the president has once again opted for the political stunt for a budget that's more about firing up the base in an election year than about solving the nation's biggest and most persistent long-term challenges >> woodruff: congressman paul ryan, the house budget chair, likewise called the obama plan a disappointment. in a statement, he said: >> woodruff: ryan offered an extensive critique yesterday of federal anti-poverty efforts. he's expected to release a republican budget proposal in the coming weeks. >> woodruff: some of the more notable pieces of the president's proposal, and expected to show up in the republican alternative, are the different approaches to poverty
generations without leaving them a mountain of debt. >> woodruff: the 2015 deficit would decline, to $560 billion, but republicans today said the red ink, spending hikes and tax increases mean the plan is dead on arrival. senate minority leader mitch mcconnell. >> rather than put together a constructive blueprint the two parties could use as a jumping off point, to get our economy moving and our fiscal house in order, the president has once again opted for the political stunt for a...
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also adds that billions of dollars to our deficit every year. insteadrats, we believe of more tax breaks for the few, we should make investments to grow the economy for everyone. that's what we believe. [applause] opportunity for all means guaranteeing every young person access to a world-class education. [applause] ago, justfour years an example, four years ago we took on the student loan system that gave billions of taxpayer dollars to big banks as part of the student loan system, even as there were young people out there who were not getting the help they need it to go to school. so we use the savings to help more students afford college. today, more young people are earning college degrees than ever before. you would think republicans would say, you know what, that's a good idea. good for you, mr. president. [laughter] bno, the republicans still want to return that money to the banks. as democrats, we are fighting to make sure that more americans can afford higher education, whether it is technical training, community colleges, four-year uni
also adds that billions of dollars to our deficit every year. insteadrats, we believe of more tax breaks for the few, we should make investments to grow the economy for everyone. that's what we believe. [applause] opportunity for all means guaranteeing every young person access to a world-class education. [applause] ago, justfour years an example, four years ago we took on the student loan system that gave billions of taxpayer dollars to big banks as part of the student loan system, even as...
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. >> defense is going down because the defect -- deficit. >> what you are asking for is very reasonable in terms of this and 56nal $26 billion billion dollars overall for defense and nondefense. forill be given the pay from the administration the next few weeks. many of us have them that are perfectly reasonable. we pay for what we need to do as a country including closing some of these loopholes which are egregious. these offshore tax loopholes, that allow the most profitable corporations in the world to avoid paying taxes by shifting their intellectual property to tax havens. the loopholes that allow the hedge fund managers to be paying half of the tax rate that people who work for them pay. there are some unjustified tax loopholes in this tax code which we should close even if we had no deficit. given the fact we have real needs including security needs, which we much fun -- must fund adequately, there are places we can fund it. $26 billion for defense and 56 billion dollars overall so i hope we take the leap the administration has given us on this budget and fund the full 56 billion
. >> defense is going down because the defect -- deficit. >> what you are asking for is very reasonable in terms of this and 56nal $26 billion billion dollars overall for defense and nondefense. forill be given the pay from the administration the next few weeks. many of us have them that are perfectly reasonable. we pay for what we need to do as a country including closing some of these loopholes which are egregious. these offshore tax loopholes, that allow the most profitable...
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then inflation eleven percent record current account deficit fiscal deficit those expect to be five percent five point two percent growth slowing to its worst in a decade and slower consumer demand you can see that in cars would fell for example for six to eight months even before the taper tantrum. and as a result the central bank they were lowering interest rates before the taper to occur proud and so that was a big shock when we got the taper tension for the for for and ok now that's really interesting because you know while the currency was already sliding it accelerated and the rupee was hitting all time lows that was day after day i believe exactly so india was in big trouble to say the least a big big big trouble and bad loans. they started once they started to climb in indian banks and the fear was a sudden stop in capital flows into the country much needed flows given its huge current account deficit now last august former i am after chief economist rajaraman john i got it i was so nervous i ventured out and he was appointed head of india's central bank and rashaun was one of the f
then inflation eleven percent record current account deficit fiscal deficit those expect to be five percent five point two percent growth slowing to its worst in a decade and slower consumer demand you can see that in cars would fell for example for six to eight months even before the taper tantrum. and as a result the central bank they were lowering interest rates before the taper to occur proud and so that was a big shock when we got the taper tension for the for for and ok now that's really...
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at a time when our deficits are falling at the fastest rate in 60 years we have to decide if we're going to keep squeezing the middle class or reduce deficits responsibly while taking steps to grow the middle class. >> that was president obama outlining his $4 trillion budget for 2015 setting the stage for another budget fight. it calls for growing are the tax expansion. the president says he's paying for all of this by closing loopholes, one of which is wall street's favorite loophole which allows hedge fund managers to count their investments as income instead of capital gains. many think it faces a long road because of republicans in the house. to walk us through the budget battle, jimmy williams, an opinion writer for u.s. news.com and an msnbc contributor. how are you? >> how are you, hello. >> i want to start with one of the more important things which is that child care tax credit. this is big for people. when you look at the numbers from the white house, you're talking about well over 1.5 million people effected, $600 for a lot of folks with children under five years old. my view
at a time when our deficits are falling at the fastest rate in 60 years we have to decide if we're going to keep squeezing the middle class or reduce deficits responsibly while taking steps to grow the middle class. >> that was president obama outlining his $4 trillion budget for 2015 setting the stage for another budget fight. it calls for growing are the tax expansion. the president says he's paying for all of this by closing loopholes, one of which is wall street's favorite loophole...
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careful to use rhetoric like balanced in there is very careful to talk about the fact that that the deficit as a percentage of the of the national economy would go down by two thousand and twenty four we're in an emergency now and you know i believe in water conservation might that not blame the house on fire i'd like to see and i'd like to see him really talk about our real problems right now and get off the deficit rhetoric altogether talk about rebuilding the economy and again i like to see him give tax breaks to people who are struggling to get by i'd like to see him address the issues that are making so many americans richer it isn't really part of the problem this is a president who believes more in centrist theory of economics then he does progressive theory of economics there's no way we can avoid that there's no way that we can kid ourselves or you know make this notion that this is truly a progressive president he's a reagan i mean the only way i can describe is reagan type democrat and i'm just not saying anything more he still has this thing on the table this thing on the table
careful to use rhetoric like balanced in there is very careful to talk about the fact that that the deficit as a percentage of the of the national economy would go down by two thousand and twenty four we're in an emergency now and you know i believe in water conservation might that not blame the house on fire i'd like to see and i'd like to see him really talk about our real problems right now and get off the deficit rhetoric altogether talk about rebuilding the economy and again i like to see...